Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Acquired by abrdn plc

abrdn plc lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 40.5% in the third quarter, HoldingsChannel reports. The firm owned 18,460 shares of the technology company’s stock after acquiring an additional 5,321 shares during the period. abrdn plc’s holdings in Check Point Software Technologies were worth $3,559,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC acquired a new position in shares of Check Point Software Technologies in the first quarter worth $6,558,000. Quantbot Technologies LP acquired a new position in shares of Check Point Software Technologies in the first quarter valued at approximately $1,095,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Check Point Software Technologies by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock valued at $15,980,000 after buying an additional 7,357 shares during the period. M&G Plc lifted its stake in shares of Check Point Software Technologies by 10.0% during the second quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after buying an additional 9,830 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Check Point Software Technologies during the first quarter worth approximately $2,928,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHKP has been the subject of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Evercore ISI increased their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays decreased their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $170.50 on Monday. Check Point Software Technologies Ltd. has a 12 month low of $134.72 and a 12 month high of $210.70. The business’s 50-day moving average is $194.47 and its two-hundred day moving average is $174.99. The firm has a market capitalization of $18.75 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.96 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 EPS. Equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.86 EPS for the current year.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.